Market Report, 2026-02-24

After the AI-fueled selloff on Monday, stocks experienced a broad-based rebound following a meaningfully better-than-expected consumer confidence reading. Furthermore, the AI company Anthropic PBC highlighted how its AI tools integrate with, rather than displace, existing systems—just weeks after its newly released tool sparked a series of repricing events in the market due to uncertainties surrounding the future economy. As a result, most major stock indices clawed back the majority of their losses from the previous day.

The Dow Jones Industrial Average gained 370 points to 49,175. The NASDAQ rose 1.09% to 24,977. The S&P 500 gained 0.77% to 6,890. The small-cap stock index, the Russell 2000, rose 1.2% to 2,652. The vast majority of sectors ended the day in the green, with the exception of healthcare and energy.

The bond market remained calm. The U.S. 5-year Treasury yield rose 2 basis points to 3.6%, while the 10-year yield rose by 1 basis point to 4.04%. Gold dipped 1%, falling below the 5,200 mark.

Economic data stayed mostly in line, aside from consumer confidence, which ticked up unexpectedly as job prospects strengthened compared to prior months. However, concerns remain, as a measure of Americans’ short-term expectations for income, business conditions, and the job market remains low.

We have more clarity around trade policy, which points to a 10% tariff on all goods not covered by exemptions. This is lower than the 15% initially threatened.

Tomorrow will be a light day for economic data, but a range of corporate earnings will be released, including Nvidia, whose earnings announcement coincides with investors’ anxiety over AI spending.

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